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GCM

Graham Capital Management Portfolio holdings

AUM $4.14B
1-Year Est. Return 17.82%
This Fund
S&P 500
This Quarter Est. Return
+1.47%
1 Year Est. Return
+17.82%
3 Year Est. Return
+41.13%
5 Year Est. Return
+43.39%
10 Year Est. Return
+274.46%
AUM
$4.18B
AUM Growth
-$2.14B
Cap. Flow
-$1.72B
Cap. Flow %
-41.09%
Top 10 Hldgs %
35.08%
Holding
1,653
New
441
Increased
361
Reduced
355
Closed
464

Top Buys

Rank Stock Value
1
CIFR icon
Cipher Digital
CIFR
+$39.9M
2
NFLX icon
Netflix
NFLX
+$38M
3
EWC icon
iShares MSCI Canada ETF
EWC
+$35M
4
UPS icon
United Parcel Service
UPS
+$26.1M
5
EOSE icon
Eos Energy Enterprises
EOSE
+$25.7M

Top Sells

Rank Stock Value
1
GDX icon
VanEck Gold Miners ETF
GDX
+$62.2M
2
IBIT icon
iShares Bitcoin Trust
IBIT
+$43.4M
3
XLU icon
State Street Utilities Select Sector SPDR ETF
XLU
+$39.5M
4
VTV icon
Vanguard Morningstar Value ETF
VTV
+$32.8M
5
XLI icon
State Street Industrial Select Sector SPDR ETF
XLI
+$20.4M

Sector Composition

Rank Sector Weight
1 Technology 8.87%
2 Industrials 7.52%
3 Financials 5.36%
4 Consumer Discretionary 5.16%
5 Communication Services 4.02%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
WEAV icon
826
Weave Communications
WEAV
$434M
$300K 0.01%
+39,588
New +$263K
CHRD icon
827
Chord Energy
CHRD
$7.77B
$300K 0.01%
+3,238
New +$300K
GRDN
828
Guardian Pharmacy Services
GRDN
$2.67B
$300K 0.01%
+9,959
New +$282K
DNLI icon
829
Denali Therapeutics
DNLI
$3.94B
$299K 0.01%
18,121
-21,198
-54% -$358K
AHCO icon
830
AdaptHealth
AHCO
$711M
$299K 0.01%
29,992
+8,316
+38% +$79.4K
ITT icon
831
ITT
ITT
$18.9B
$298K 0.01%
1,716
-7,884
-82% -$1.41M
EU
832
enCore Energy
EU
$249M
$296K 0.01%
+119,236
New +$341K
MCB icon
833
Metropolitan Bank Holding Corp
MCB
$1.14B
$296K 0.01%
+3,870
New +$287K
MD icon
834
Pediatrix Medical
MD
$2.12B
$295K 0.01%
+13,802
New +$283K
CELC icon
835
Celcuity
CELC
$4.45B
$295K 0.01%
2,959
-16,387
-85% -$1.35M
SCCO icon
836
Southern Copper
SCCO
$169B
$295K 0.01%
+2,093
New +$277K
CLF icon
837
Cleveland-Cliffs
CLF
$7.19B
$294K 0.01%
+22,119
New +$279K
NVGS icon
838
Navigator Holdings
NVGS
$1.26B
$294K 0.01%
+16,951
New +$283K
MMSI icon
839
Merit Medical Systems
MMSI
$5.4B
$293K 0.01%
3,324
+635
+24% +$54K
LQDT icon
840
Liquidity Services
LQDT
$1.27B
$292K 0.01%
9,649
+273
+3% +$7.33K
VTYX
841
DELISTED
Ventyx Biosciences
VTYX
$292K 0.01%
32,381
-126,682
-80% -$947K
BWXT icon
842
BWX Technologies
BWXT
$15.5B
$292K 0.01%
+1,691
New +$317K
MLAB icon
843
Mesa Laboratories
MLAB
$573M
$292K 0.01%
+3,723
New +$283K
HDB icon
844
HDFC Bank
HDB
$120B
$291K 0.01%
+7,977
New +$287K
TTEC icon
845
TTEC Holdings
TTEC
$115M
$291K 0.01%
80,873
-25,788
-24% -$87.7K
HELP
846
Cybin Inc
HELP
$644M
$290K 0.01%
+35,509
New +$229K
FMC icon
847
FMC
FMC
$1.29B
$290K 0.01%
20,938
+14,504
+225% +$277K
AMSC icon
848
American Superconductor
AMSC
$1.54B
$290K 0.01%
+10,066
New +$435K
MTDR icon
849
Matador Resources
MTDR
$6.45B
$290K 0.01%
+6,824
New +$287K
AMTB icon
850
Amerant Bancorp
AMTB
$1.12B
$287K 0.01%
14,706
+4,098
+39% +$76.3K
32 33
34
35 36

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Graham Capital Management's Q4 2025 Portfolio in Review

As of Q4 2025, Graham Capital Management held 1,653 positions worth $4.18B, down 34% from $6.32B the previous quarter. Its ten largest holdings account for 35% of the portfolio.

Graham Capital Management withdrew a net $1.72B in Q4 2025, closing 464 positions and reducing 355 holdings. Its most notable exit was Vanguard Morningstar Value ETF, an estimated $32.8M position sold in full.

By sector, the portfolio is most concentrated in Technology at 8.9% of assets, up from 3.7% a quarter earlier, followed by Industrials and Financials.

Against the trend, Graham Capital Management opened a new position in Cipher Digital worth $33.3M.

  • Graham Capital Management's largest Q4 2025 buy was Cipher Digital: 2,258,042 shares worth $33.3M.
  • Graham Capital Management added most to Netflix in Q4 2025, an estimated $38M increase.
  • Graham Capital Management's biggest Q4 2025 reduction was VanEck Gold Miners ETF, cutting an estimated $62.2M.
  • Graham Capital Management fully exited Vanguard Morningstar Value ETF in Q4 2025, selling an estimated $32.8M.
  • Graham Capital Management's ten largest holdings make up 35% of its $4.18B portfolio in Q4 2025.
  • Graham Capital Management opened 441 new positions and closed 464 in Q4 2025.
  • Graham Capital Management's portfolio value fell 34% quarter-over-quarter to $4.18B.

Based on Graham Capital Management's 13F filing for Q4 2025, filed 17 Feb 2026.